Former Deutsche Bank Trader Fined $250,000 for Libor Rigging

Former Deutsche Bank Trader Fined $250,000 for Libor Rigging

Former Deutsche Bank trader, Guillaume Adolph have been fined £180,000 ($250,000) for Libor rigging by the UK Financial Conduct Authority for offences had occurred almost 10 years ago. Libor is the London Interbank Offered Rate and is the leading reference for global interest rate.

” Former Deutsche Bank trader Fined £180,000 for Libor Rigging “

Between 2008 and 2010, Guillaume had made requests to Deutsche Swiss franc Libor submitters to adjust their quotes to benefit his own trading positions. He was also Deutsche Bank’s primary yen Libor submitter, and had arranged with a trader at another bank to make yen Libor submissions, that in submission, to consider price submissions that may benefit his trading positions.

In 2015, Deutsche Bank had already been fined $2.5 billion by British and U.S. authorities for alleged rigging of Libor. Other traders have since been fined and banned in the financial sector in the Libor rigging including former UBS and Citigroup trader Tom Hayes being sent to prison.

DeutscheBank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the Bank is continuously growing in North America, Asia and key emerging markets. With more than 78,000 employees in over 70 countries worldwide, DeutscheBank offers unparalleled financial services throughout the world. The Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.